Home Wealth  Money Retail Sales Rose in October, Exceeding Estimates

Retail Sales Rose in October, Exceeding Estimates

Posted: Nov. 16th, 2011  |  By Forbes

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As retailers gear up for the onset of the holiday shopping season, many released earnings today and the Commerce Depart reported retail sales rose last month.

Retail sales rose 0.5% in October, or 0.6% excluding auto sales.

The figure exceeded economist expectations, and compares to a 1.1% gain in September.

Wal-Mart (nyse: WMT - news - people ) and Home Depot (nyse: HD - news - people ) were among the major retailers reporting results today.

Saks (nyse: SKS - news - people ) posted earnings that fell short of analyst estimates, although revenue exceeded expectations. TJX (nyse: TJX - news - people ) reported earnings per share ahead of analyst forecasts, however revenue fell short.

The Retail HOLDRS ETF, with Wal-Mart and Home Depot as its top two holdings, is trading down .7% Tuesday.

The Dynamic Retail Portfolio (), with iconic department store Macy's (nyse: M - news - people ) () as its top holding and TJX in its top five, is trading up .5%.

And the SPDR S&P Retail ETF (), with a broad range of holdings, is trading down over .6% Tuesday.

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